Thursday, May 6, 2021
Law) was published in the Federal Official Gazette.
In addition to the amendments and additions referred to in a Greenberg Traurig Alert published in April 2021 (Mexico’s Bill with Draft Decree to Amend and Add Various Provisions to the Hydrocarbons Law), on April 21, 2021, the Chamber of Deputies approved the draft decree that amends the Thirteenth Transitory Article of the Law (the
Bill), which was sent for review to the Senate, and approved on April 29, 2021.
The Bill addresses the following:
Asymmetric Regulation: General Framework
Comisión Reguladora de Energía,
CRE) to impose certain rules on Petróleos Mexicanos (
Following our client alert published on March 30, 2021,
1 the decree by which several provisions of the Hydrocarbons Law are amended and added (the Reform ) was published on May 4, 2021 and entered into effect on May 5, 2021.
As reported by White & Case, on March 26, 2020, Mexican President Andrés Manuel López Obrador sent to the Chamber of Deputies the initiative to modify the Hydrocarbons Law. This initiative was the subject of a significant number of comments from private individuals and entities, and the Federal Economic Competition Commission issued a statement determining that “the process of competition and free competition in the value chain of hydrocarbons, petroleum products and petrochemicals would be negatively affected” in the event that the initiative was published in its current terms.
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On May 4, 2021, the first amendment to Mexico’s Hydrocarbons Law was published in the Federal Official Gazette, with the legislative process having concluded on April 22, 2021, after a heated debate during a plenary session of the Senate (the “
The Amendment modifies core aspects of the permits necessary to perform midstream and downstream activities in the hydrocarbons sector, giving the Energy Regulatory Commission (
Comisión Reguladora de Energía, “CRE”) discretionary powers to grant and approve the assignment of permits, among other powers. For more details on the Amendment, see our previous
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On May 4, 2021, the first amendment to Mexico s Hydrocarbons
Law was published in the Federal Official Gazette, with the
legislative process having concluded on April 22, 2021, after a
heated debate during a plenary session of the Senate (the Amendment ).
The Amendment modifies core aspects of the permits necessary to
perform midstream and downstream activities in the hydrocarbons
sector, giving the Energy Regulatory Commission
(
Comisión Reguladora de Energía, CRE ) discretionary powers to grant and approve the
assignment of permits, among other powers. For more details on the
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